Commonwealth Bank Now Expects RBA to Hike to 4.85% in November

The Commonwealth Bank of Australia has revised its forecast, predicting that the Reserve Bank of Australia (RBA) will raise interest rates to 4.85% by November. Economist Belinda Allen highlighted this expectation in a recent research note, noting the significance of this potential increase in tackling inflation. This anticipated hike could influence consumer spending and borrowing costs, impacting both the economy and individual financial planning. For more details, check out the full report on Bloomberg.